Tennessee § 47-9-703 - Security interest perfected before effective date.
Full text of Tennessee Tennessee Code Annotated § 47-9-703 — Security interest perfected before effective date., with citation guidance and answers to common questions.
§ 47-9-703. Security interest perfected before effective date.
Continuing priority over lien creditor: perfection requirements satisfied. A security interest that is enforceable immediately before this act takes effect and would have priority over the rights of a person that becomes a lien creditor at that time is a perfected security interest under this act if, on July 1, 2001, the applicable requirements for enforceability and perfection under this act are satisfied without further action. Continuing priority over lien creditor: perfection requirements not satisfied. Except as otherwise provided in § 47-9-705, if, immediately before July 1, 2001, a security interest is enforceable and would have priority over the rights of a person that becomes a lien creditor at that time, but the applicable requirements for enforceability or perfection under this act are not satisfied on July 1, 2001, the security interest: is a perfected security interest for one (1) year after this act takes effect; remains enforceable thereafter only if the security interest becomes enforceable under § 47-9-203 before the year expires; and remains perfected thereafter only if the applicable requirements for perfection under this act are satisfied before the year expires. Acts 2000, ch. 846, § 1.
Frequently Asked Questions About Tennessee § 47-9-703
What does Tennessee Code Annotated § 47-9-703 cover?
Section 47-9-703 ("Security interest perfected before effective date.") is part of the Tennessee Code Annotated, the codified statutory law of Tennessee. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Tennessee § 47-9-703?
A common citation format is "Tennessee Code Annotated § 47-9-703" (Tennessee). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Tennessee law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Tennessee official source linked on this page or consult a licensed Tennessee attorney.
How does Tennessee § 47-9-703 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Tennessee can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Tennessee.